“Samsung Electronics has confirmed it is considering dividing the company into two separate firms,” BBC News reports. “Restructuring pressure had been mounting after the Note 7 fiasco.”

“In October, the company was forced to stop production of its flagship smartphone model after failing to resolve battery problems leading to overheating and the devices catching fire,” The Beeb reports. “Samsung said it would bring in ‘external advisers to conduct a thorough review of the optimal corporate structure.'”

“The company’s statement comes after US activist hedge fund Elliott Management called for the firm to split into a holding unit for ownership purposes and a separate operating company,” The Beeb reports. “The fund argued that a split would simplify the company structure making it easier to get a clear valuation of the firm’s assets.”